Advice on my first coin show as dealer.

TheBlackKnight

OK, I've done it and purchased a table at a local coin show (about 20-30 dealers). This will be my first time on the other side of the table.

I have 2 display cases, a swing arm light and a swing arm mag. glass, and lots of inventory - mostly slabbed stuff, mostly modern. A few raw coins in 2X2s in a binder and a few partial rolls.

What are the kind of things I should look out for?

kranky

Take paper towels and some glass cleaner to keep your display cases free of smudges and fingerprints.

Make friends with your next-door neighbor at the show so you have someone to watch your table when you need to make a pit stop or grab some food. Offer to bring him back something.

When you sell a coin from your case, quickly realign them to not leave any empty spaces between coins. That way you can tell at a glance if something "walked away".

Greet everyone walking by your table and make eye contact. If they pause to look at your stuff, ask what you can show them or what they collect.

Know what you want for your coins.

Have business cards available if you desire people to stay in touch with you other than at shows.

If you are selling things like proof sets (things larger than slabs) it's a nice touch to have paper bags to put purchases in.

Keep meticulous records of what you buy and sell for tax purposes.

TheNumish

If you're by yourself try to only deal with one person at a time. At most two. 99% of the people are honest but the few predators that are out there are just waiting for a chance to steal. When you leave the show make sure someone else is with you when you go to your car to load up.

Try to bring a little cash along in case there is a member of the public with coins to sell.

Make a sign that you buy coins. Doesn't have to be big or fancy.

TomB

Bring plenty of small denomination bills to easily make change for purchases.

numobri

I see you have the RED WING for your icon,is the show in Mich? If so, where?I'm in Mich.

TheBlackKnight

No, the show is in Camden, South Carolina.


I'm originally from Mich and a Red Wing fan.

goose3

CAMDEN!!??

my granny lives in Bethune! I am trying to talk my wife into going there in October or later this month for a week!

jtryka

Be friendly, and by all means, use an extra measure of care when giving change for purchases. My last show, I was nearly short-changed 2 or 3 times. Granted, the new 50s do look a lot like 20s, but come on! I shouldn't have to tell you that you shortchanged me, you should carefully look at the bill rather than assume it's a 20 etc. I know it happens, so the first time I let it go, the second time I started asking for business cards so I could make sure I never do business with them again. After all, if you can't handle giving out change, you probably are worse with coins!

mrdq

On a good day in my line of work I can personally see, face to face, RIGHT THERE IN FRONT OF ME, 500-700 people. I say "HI" or "Howdy" or "how are ya" SOMETHING to every single one of them and I say thank you when they're done being served. When I was at my first and only show in Columbus in April MOST of the dealers just stood there and said nothing at all when I walked up to their table.

Of course none of them knew that I had planned on spending $5,000 that afternoon or they might have at least said HI or HOWDY. The ones that said something to me struck me right off as nicer people willing to engage in a transaction about coins. The others seemed aloof, high-brow, bored, and sometimes annoyed. I ended up spending half my budget at one table that was run by a husband and wife who were GREAT at "working the table" saying things like "do you want to look at anything" or " what do you collect" or " where are you from".. general BS stuff but kid of make you feel comfortable and makes them seem approachable.

You don't have to get into someone's life story, and sometimes in larger cities people are just generally more "stand-offish", but what's it going to hurt by saying HI to every person that glances at your table or stops or just slows down to peek at your stuff? not much effort and the worst case is people get the impression that you're a nice guy

coinnerd

Don't prejudge anyone who stops at your table. Not by age, sex, race or nationality. I've had teenagers stop who spent a couple hundred dollars. I once had 2 Hispanic men stop when I started chatting with them, I noticed everyone near me ignore them. They spent over $300. The next day of the show they brought some of their friends to my table. You never know who the buyers are

berylcoin

I echo the sentiments of mrdq and coinerd. In other words: don't sit behind the table complaining to another dealer about how bad attendance and business are, leaving a paying customer waiting until they finally give up and move on, just because you don't think they look like a big spender.

But, of course, I'm just speaking hypothetically.

BC

RGL

Agreed ... if the front of your table is busy with customers examining your wares or you are showing/selling a coin, please acknowledge those waiting to look at your coins or ask if you have a particular item in stock. Nothing is worse than standing there without the dealer even taking a second to say, "I'll be with you a minute. Thanks for waiting ...'' A little courtesy will keep the would-be coin buyer waiting, or even if he moves on, bring him back because you cared enough to acknowledge him/her. Good luck!

fcloud

I am not a dealer and the one thing that bothers me, as a customer, the most is a dealer who will not look at me or acknowledge me. It doesn't matter if he/she has a few customers or not. I simply move on, and when I make my final swing through to see if I missed anything. I skip over the table--I don't care what they have. I give them the same respect they gave me. I guess I don't look rich. Their loss.

TheBlackKnight

Thanks for all of your great advice. I will let you know in a couple of weeks after the show.

Anyone in the Camden, SC area on Sept 21, stop in and take a look. Also, there is a show in Aiken, SC on Sept 14.

coinguy1

BlackKnight, I'd also recommend: an extension cord (sometimes the electrical outlets are too far to reach; otherwise), an extra light bulb; familiarity with your state sales tax laws; attention to security details/issues (be low key about what you have wiith you and be extra careful leaving the show); paper and pens; checks and information for references, in case someone selling coins to you doesn't know you and is afraid to accept your check as payment.

stujoe

<< <i>Bring plenty of small denomination bills to easily make change for purchases. >>



I always think it is neat when the dealers give back change in two dollar bills, golden dollars and Kennedy halves. I don't know why I like it but it is kind of neat touch. :-)

On the more serious side, be courteous and approachable as others have said. Nothing sends me away from a dealer faster than if he comes across as a jerk. Don't come off as a used car salesman but a "Hi, How are you?" or similar can go a long way.

Oh, and remember that anything you say may be overheard by a potential customer. I have heard dealers talking negatively about customers when they thought no one could hear them.

EVillageProwler

just because you don't think they look like a big spender

I'm sure you don't need to hear more of the same advice being dispensed, but I'm going to share it anyway. Perhaps I just need to vent a little bit...

Pretty much since I graduated from college, I was able to make good money doing technology. I liked to dress very casually, and I looked young. No one would ever give me the time of day, unless I was in my business attire or with a girlfriend or someone who looked older.

Ridiculous. Shopping was so insulting. In my mid-20's, a decade ago, I was already making over $50K annually. But, most retailers simply didn't want to deal with me. Dunno why. It's not like I looked criminal or homeless or whatever...

As I walk the bourse floor, I am usually attired very comfortably. Also unshaven. Still, I usually have many thousands of dollars to spend. Those schmucks who disregard me miss out. Those who were polite (and had nice coins that I wanted) were able to get my business.

EVP

itsnotjustme

<< <i>I always think it is neat when the dealers give back change in two dollar bills, golden dollars and Kennedy halves. I don't know why I like it but it is kind of neat touch. :-) >>


As a kid, I used to go to Coins of the Realm in Rockville, MD. I often got my change in Ike dollars and Kennedy halves. Wonder if that shop is still there?

danglen

Just treat people the way you would have wanted to be treated when you were on the other side of the table, and things will work out fine.

gsaguy

Most dealers will tell you that they make their money buying, not selling, and yet most of them will rarely ask someone from the public, "what are you selling today?"!!!!!!!!

I don't know why that is but I've seen it hundreds of times as dealers sitting around me fail to engage the public or are only interested in selling to them. Yes, most of the public will say they have nothing to sell, some will have a bag full of junk, but every once in a while you'll hit someone with a truly nice collection.

A buddy of mine, who always asks the public what they have for sale, recently hit the jackpot. Near the end of a west coast show back in the spring, a collector who had had no luck selling at the show stopped at his table because this dealer ASKED what he had for sale. Now, every Monday, this dealer makes a trip to the west coast and buys about $25,000 worth of inventory as this collector sells off his extensive collection.

It really does happen.

GSAGUY

danarchy

A few thoughts from a buyer at shows.
Just because they don't look well off, doesn't mean they don't have spendable cash(the good kind)
Treat peoples kids with the respect you would show the parent. Don't snatch $10.00 oins from a 6 y/o who has $20.00 in her pocket. Also might wanna put out a bowl of mints or bite size candy. Offer them. Ask parents permission first. I tend to spend more money with a seller who speaks to my kids. Share the hobby ya'know.

We as a family get somewhat varied reactions at shows. My kids are all cute(un bias opinion.)The wife is an 80's metal babe, myself I look like I just rode in with the Hell's Angels. My kids have had sellers rude to them. Cost them money. People look at me like I am gonna strong arm them, there loss. I often have my wife buy the coins, a wink
and a smile go a long way. This is certainly something to look out for too!Oh, also there loss

Give everyone a chance. Don't pre judge!

dan

Strat

Lots of pertinent advice here, but also remember to relax and enjoy the experience. If you're easygoing, it will make people feel more at ease with you, and you'll be able to relate to them and find out what they want to buy or sell.

But heck, easier said than done. My first show was easy, since I shared the table with an experienced dealer. My next one after that, my palms were sweating. Part of the reason was that in the rush to get to the show on time, I forgot my greysheets and inventory list. Nothing like being stared down by veteran dealers asking for prices on your coins when you don't have any pricing information with you! So, don't forget your price sheets!

wingedliberty

Don't forget to ask everyone who buys a coin from you, whether they have a want list or not.

Brian.

joemon2

At my first major coin show, I was still learning but had a lot of enthusiasm and a desire to acquire more knowledge. I also had about $500 to spend. I attended the last day of a 3 day show. Many dealers had already left and others were disappointed in the small turn-out. Several did take time to talk and offer some much-needed (and appreciated) advice and I still do business with them. I think showing an interest and greeting everyone is very important.